Mercer to Acquire Investment Consultant SECOR Asset Management

Financial services and consulting firm Mercer, a Marsh McLennan company, announced Tuesday that it has entered into an agreement to acquire SECOR Asset Management L.P., an investment consulting firm which counts pension funds, insurance companies, endowments and family offices as clients.

SECOR had $13.8 billion in assets under advisement and $21.5 billion in assets under management as of September 30, 2024, according to the announcement. The firm offers investment strategy, tactical asset allocation, manager selection, portfolio monitoring and implementation services for asset owners.

“SECOR’s exceptional team is highly regarded in the industry for their extensive experience working with in-house investment teams and proven expertise in specialized investment implementation,” said Michael Dempsey, Mercer’s wealth president, in a statement. “We are thrilled at the opportunity to welcome this talented group and to continue developing a comprehensive and agile suite of solutions designed for the distinct needs of institutional investors.”

The acquisition will add to Mercer’s existing investment consulting capabilities. SECOR will be integrated into the wider Mercer and Marsh McLennan businesses after the acquisition closes, a spokesperson for Mercer said. The two firms will operate as separate companies until then. Mercer also acquired Vanguard’s $60 billion AUM outsourced CIO business early last year. 

“It’s terrific that our colleagues will have the opportunity to advance their careers at Mercer and that our clients will benefit from access to Mercer’s extensive global resources, valued insights and seasoned investment talent once the transaction is finalized,” said Tony Kao, founder, managing principal and CIO at SECOR, in a statement. “Having served as both an in-house Chief Investment Officer and a partner to clients, I believe that Mercer is the ideal steward for our business’s future.”

SECOR’s 40 employees in New York and London will join Mercer when the transaction is completed, which is anticipated in this year’s second quarter, pending regulatory approval and client consents.